About the Regulatory Blog and our contributors
The Regulatory Blog is an informal and up to date news and information service of key regulatory developments in our jurisdictions: the BVI, the Cayman Islands, Anguilla, Bermuda, Cyprus, and Luxembourg. We intend to include the latest financial services, anti-money laundering, sanctions and related developments within our remit.
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International Monetary Fund (IMF) Global Financial Stability Report published for 2021
The IMF has published its Global Financial Stability Report for 2021 entitled Covid-19, Crypto and Climate: Navigating Challenging Transitions, assessing key vulnerabilities to which the global financial system is exposed. This annual report is aimed at preventing crises by highlighting economic policies that may mitigate systemic risks.
03 Nov 2021
BVI prolongs the Financial Services (Exceptional Circumstances) Act, 2020
In March 2020, at the start of the global COVID-19 pandemic, in order to ensure the effective and continued operation of financial services in the BVI, the Financial Services (Exceptional Circumstances) Act 2020 (the Act) was passed. The Act covers how the continued operation of financial services business will be maintained in exceptional circumstances. In accordance with the Act, the Financial Services (Exceptional Circumstances) Order, 2020 (the Order) declared the COVID-19 pandemic, exceptional circumstances for which different or special measures are required to ensure the continued operation of financial services business.
21 Apr 2021
BVI regulator issues notices on COVID-19
The BVI Financial Services Commission issued two press releases this week informing the industry on its own Covid-19 preparedness measures:
19 Mar 2021
Global Fintech Regulatory Rapid Assessment Study due to Covid-19
The World Bank and the Cambridge Centre for Alternative Finance (CCAF) have very recently jointly published the Global COVID-19 FinTech Regulatory Rapid Assessment Study recognizing the need to comprehend the impact of COVID-19 on the regulation of FinTech and regulatory innovation initiatives.
03 Dec 2020
Europe renews short selling restrictions
On 16 September, the European Securities and Markets Authority (ESMA) and the EFTA Surveillance Authority renewed the requirement on hedge funds and other short sellers of stocks to report to member state regulators (National Competent Authorities or NCAs) where their positions exceed 0.1 per cent of the share capital of an issuer listed on an EU regulated market.
25 Sep 2020
EU’s drive to reinvigorate the Capital Markets Union due to Covid-19
The European Commission recently announced its intention to streamline key aspects of the Capital Market Union in response to COVID-19. The drive is in response to pressures on the European economy, both current and anticipated, caused by the pandemic.
15 Sep 2020
Europe addresses risks for retail clients
As the coronavirus pandemic swept Europe, ESMA warned firms not to forget their conduct of business obligations under MiFID II. The Cyprus Securities and Exchange Commission has also reaffirmed its approach.
10 Sep 2020
Luxembourg government calls on start-ups to innovate in order to overcome the COVID-19 crisis
On 10 April 2020, Luxembourg’s Ministry of Economy announced the launch of “StartupsVsCovid19”; an initiative inviting young, innovative companies to submit their projects for overcoming the COVID-19 crisis.
23 Apr 2020
Luxembourg update: Grand Ducal Regulation introducing measures concerning meetings in companies and other legal entities
Ever-pragmatic, the Luxembourg legislature has enacted a Grand Ducal Regulation, which entered into force on 20 March 2020, permitting a Luxembourg company, notwithstanding any contrary provisions in its articles of incorporation, to hold any general meeting without a physical meeting, and require its shareholders or members and other participants in the meeting to attend and exercise their rights exclusively:
23 Mar 2020